End of QR regime seen improving textile exports

AGENCIESOct 12, 2003, 10.02pm IST

KOLKATA: India's textile exports, currently having a $12bn market share were expected to witness a quantum jump following the removal of quota restrictions under WTO regime from '04, Union textiles minister Shahnawaz Hussain said on Sunday.

"The current textile exports of about Rs 60,000 crore or $12bn are expected to see a quantum jump after '04 when the quota restriction is to be removed," the minister told newspersons here. Stating that the textile industry could even achieve a $50bn export within a few years, he said the government was taking measures to achieve the same.

Mr Hussain, however, said the Indian textile exports would have to face serious challenge from China in a free global market. the minister, who earlier inaugurated an international seminar on "2000 years of Indian textiles", said the government has already announced incentive packages for artisans and weavers, including issuance of credit cards on line with the kisan credit cards.

Besides, a special package of Rs 80 crore worth would be offered for the artisans and weavers of the Kashmir valley, he said.